Ireland’s Lane sole candidate for ECB board seat: EU

IMF forum on dealing with booms and busts
FILE PHOTO – Irish central bank Governor Philip Lane participates in the forum on dealing with booms and busts during the IMF/World Bank spring meeting in Washington, U.S., April 21, 2018. REUTERS/Yuri Gripas

January 30, 2019

BRUSSELS (Reuters) – Irish central bank chief Philip Lane is the sole candidate to replace European Central Bank chief economist Peter Praet when his term ends in May, Eurogroup President Mário Centeno said in a statement on Wednesday.

Lane, 49, has led Ireland’s central bank since 2015, overseeing a solid growth of the Irish economy after an EU bailout in the 2011-2014 period that helped the country overcome the worst financial crisis since World War II.

“I have received one (nomination). Ireland proposed the Central Bank of Ireland Governor, Philip Lane,” Centeno said.

Considered a dove closely aligned with ECB President Mario Draghi, Lane would be responsible for preparing monetary policy decision, one of the most vital positions at the bank.

(Reporting by Francesco Guarascio and Balazs Koranyi)

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